I despise DRM and formats also. I bought a book from a seller who charged me a foreign transaction fee because I'm US and they are AUS. I chose PDF for the download, since I am pretty talented at manipulating that format. Not that time!
Prob 1: I downloaded it to my work PC. Turned out it could only be on one single device.
Prob 2: It had an expiration date. As it was on my work computer, I could only read it during slow times. The 3 month time limit passed before I finished it.
So I paid full price + fee for a book that I could not carry with me, and which disappeared leaving only an icon to show it ever existed.
I will be so freakin' glad when a single non-DRM format rises to the top of the mobile reading device pile.